Group 1: Transaction Overview - Gray Media, Inc. and The E.W. Scripps Company have entered into agreements to swap television stations across five mid-sized and small markets, creating new duopolies for each group [1][2] - Gray will acquire Scripps' WSYM (Fox) in Lansing, Michigan, and KATC (ABC) in Lafayette, Louisiana, enhancing its presence in these markets [3][4] - Scripps will acquire Gray's KKTV (CBS) in Colorado Springs, KKCO (NBC) in Grand Junction, and KMVT (CBS) in Twin Falls, strengthening its regional presence in the West [4] Group 2: Strategic Intent and Benefits - The transactions are expected to provide market scale and depth, enhancing financial durability and allowing for improved public service through local news and sports programming [2] - Both companies anticipate expanding news staff and live local newscasts following the acquisitions, indicating a commitment to increased local coverage [4] - The swap involves an even exchange of comparable assets, with no cash consideration between the companies [5] Group 3: Regulatory and Operational Considerations - The closing of the transactions is anticipated in the fourth quarter of the year, pending regulatory approvals and waivers of outdated local ownership restrictions [6] - Both companies plan to work closely with regulators and stakeholders to ensure smooth transitions of the stations to new ownership [6] Group 4: Company Profiles - The E.W. Scripps Company operates over 60 stations in 40+ markets, focusing on quality local journalism and holding the largest broadcast spectrum in the nation [8] - Gray Media, Inc. is the largest owner of top-rated local television stations, reaching approximately 37% of US television households, and operates in 113 television markets [9]

Company Performance - Gray Media's stock closed at $4.92, reflecting a +1.03% change from the previous day's closing price, outperforming the S&P 500's daily gain of 0.83% [1] - Over the last month, Gray Media's shares have increased by 32.34%, significantly surpassing the Consumer Discretionary sector's gain of 7.03% and the S&P 500's gain of 4.99% [1] Upcoming Financial Results - Gray Media is expected to report an EPS of -$0.34, indicating a 477.78% decline compared to the same quarter last year [2] - The consensus estimate for quarterly revenue is $763 million, down 7.63% from the year-ago period [2] Fiscal Year Estimates - For the entire fiscal year, the Zacks Consensus Estimates predict an EPS of -$0.72 and revenue of $3.15 billion, reflecting changes of -121.43% and -13.67% respectively from the previous year [3] - Recent revisions to analyst forecasts for Gray Media should be monitored, as positive revisions indicate analyst optimism about the business and profitability [3] Industry Context - The Broadcast Radio and Television industry, part of the Consumer Discretionary sector, holds a Zacks Industry Rank of 90, placing it in the top 37% of over 250 industries [6] - The Zacks Industry Rank assesses the strength of industry groups by calculating the average Zacks Rank of individual stocks, with top-rated industries outperforming the bottom half by a factor of 2 to 1 [6]

Core Viewpoint - The article discusses the reliability of brokerage recommendations, particularly focusing on Gray Media (GTN), and emphasizes the importance of using these recommendations in conjunction with other analytical tools like the Zacks Rank for making informed investment decisions [1][5][10]. Brokerage Recommendations - Gray Media has an average brokerage recommendation (ABR) of 1.80, indicating a rating between Strong Buy and Buy, based on recommendations from five brokerage firms [2]. - Out of the five recommendations, three are Strong Buy, accounting for 60% of the total recommendations [2]. Limitations of Brokerage Recommendations - Studies indicate that brokerage recommendations have limited success in guiding investors towards stocks with the highest price increase potential [5]. - Analysts from brokerage firms tend to exhibit a strong positive bias in their ratings, with a ratio of five "Strong Buy" recommendations for every "Strong Sell" [6][10]. - The interests of brokerage firms may not align with those of retail investors, leading to potential misguidance regarding stock price movements [7][10]. Zacks Rank as an Alternative - The Zacks Rank is presented as a more reliable indicator of a stock's near-term price performance, utilizing earnings estimate revisions as its core metric [8][11]. - Unlike the ABR, which is based solely on brokerage recommendations, the Zacks Rank is a quantitative model that reflects timely changes in earnings estimates [9][12]. Current Earnings Estimates for Gray Media - The Zacks Consensus Estimate for Gray Media's current year earnings remains unchanged at -$0.72, suggesting stable analyst views on the company's earnings prospects [13]. - The Zacks Rank for Gray Media is currently 3 (Hold), indicating a cautious approach despite the Buy-equivalent ABR [14].

Gray Media (GTN) ended the recent trading session at $4.64, demonstrating a +2.43% change from the preceding day's closing price. The stock outpaced the S&P 500's daily loss of 0.11%. Meanwhile, the Dow gained 0.91%, and the Nasdaq, a tech-heavy index, lost 0.82%. Coming into today, shares of the broadcast television company had gained 17.36% in the past month. In that same time, the Consumer Discretionary sector gained 7.03%, while the S&P 500 gained 5.17%. The investment community will be closely monitori ...

Group 1 - Gray Media has appointed Stephanie Plant as the new General Manager of WTAP, the NBC affiliate in Parkersburg, West Virginia, effective July 2, 2025, succeeding Ken Long who is retiring after 44 years in the media industry [1] - Stephanie Plant is a native of Parkersburg with nearly 20 years of sales experience, having joined WTAP as an Account Manager in 2016 and serving as Local Sales Manager for the past 8 years [3] - Gray Media, Inc. is the largest owner of top-rated local television stations and digital assets in the U.S., reaching approximately 37 percent of U.S. television households across 113 markets [5] Group 2 - The company's portfolio includes 78 markets with the top-rated television station and 99 markets with the first and/or second highest rated television station during 2024, as well as the largest Telemundo Affiliate group with 44 markets [5] - Gray Media also owns Gray Digital Media, which provides digital marketing strategies and services, along with video production companies and studio production facilities [5] - Stephanie Plant is actively involved in community service, serving on the Board of Directors for Camden Clark Memorial Hospital Foundation and as Race Director for Thriving Beyond Breast Cancer [4]

Company Overview - Gray Media, Inc. is the largest owner of top-rated local television stations and digital assets in the United States, serving 113 television markets that reach approximately 37 percent of US television households [6] - The company operates 78 markets with the top-rated television station and 99 markets with the first and/or second highest rated television station during 2024 [6] - Gray Media also owns the largest Telemundo Affiliate group with 44 markets and offers digital marketing strategies through Gray Digital Media [6] Leadership Promotion - Jessica Laszewski has been promoted to General Manager of WSAW, the CBS affiliate in Wausau, Wisconsin, effective July 21, 2025 [1] - Prior to this promotion, she served as News Director at Gray Television's WMTV (NBC) in Madison, Wisconsin, where she led the station to become 1 in news viewership and achieved significant digital transformation [3] Achievements and Recognition - Under Jessica's leadership, WMTV received the RTDNA Regional Edward R. Murrow Award for "Overall Excellence" in 2022, 2024, and 2025, and earned nine Regional Murrow Awards in 2025 alone [3] - WMTV has consistently received more top honors than any other station in its division since 2022, including being named Wisconsin Broadcasters Association Station of the Year and News Operation of the Year [3] Professional Background - Jessica has previously held positions as News Director at WSAW (CBS) and WNDU (NBC), and has experience in producing and executive producing roles at various other television stations [4] - She is actively involved in the journalism community, serving on multiple boards and committees, including the Wisconsin Freedom of Information Council and the Midwest Broadcast Journalists Association [5]

Financial Performance & Metrics - Gray reported $3.5 billion in Last Eight Quarters Annualized (L8QA) revenue[13] - The company's L8QA Operating Cash Flow was $1.1 billion, resulting in a 32% margin[13] - Gray's First Lien Leverage Ratio ranged from 2.4x to 2.6x between FY2021 and FY2023[67] - Total Debt was $6.21 billion in FY2023[68] Market Position & Reach - Gray Television is the nation's second-largest television broadcaster[12] - The company reaches 36% of total US television households[14] - Gray has 1 or 2 ranked local TV stations in 89% of its markets[13] - NextGen TV deployments reached nearly 24 million US TV households in early 2024, representing approximately 19% of the total[54] Revenue Streams & Growth - Big Four Network Programming contributed 30% of Gray's 2023 Television Ad Revenue[24] - Political Advertising Revenue increased by 38% in 2022 over the prior mid-term year of 2018[38, 43, 49] - Gray Digital Platforms transmitted 836 million video streams and attracted 10.7 billion page views with 1.25 billion monthly aggregate users in 2023[52] Strategic Initiatives - Gray has completed retransmission renewals representing more than 70% of its traditional MVPD subscriber footprint as of March 1, 2024[29]

Group 1 - Gray Media stations and InvestigateTV received awards for outstanding investigative journalism at the IRE annual conference [1][2] - WANF in Atlanta and InvestigateTV won Video Division II for their investigation "In Plane Sight: The Fix," which led to significant changes in the US Department of Justice's practices [2] - WSMV in Nashville won Video Division III for "Predator: System Failure," revealing serious flaws in the handling of sexual assault complaints and resulting in the arrest of a predator [2] - KMOV in St. Louis was a finalist in Video Division III for "Secrets of a School Shooting Revealed," uncovering critical information about a school shooting and the failures that allowed it to occur [2] Group 2 - Gray Media, Inc. is the largest owner of local television stations in the US, serving 113 television markets and reaching approximately 37% of US television households [3] - The company operates 78 markets with top-rated television stations and has the largest Telemundo Affiliate group with 44 markets [3] - Gray Media also includes Gray Digital Media, which provides advanced digital marketing strategies, and owns various video production companies and studio facilities [3]

ATLANTA, June 16, 2025 (GLOBE NEWSWIRE) -- Gray Media has named David Hughes as the next General Manager of WFSB, the CBS affiliate in Hartford, Connecticut. He succeeds Dana Neves, who recently became a Senior Managing Vice President at Gray. David joins the WFSB team effective July 9, 2025. David has served as General Manager of Gray’s WOIO (CBS) and WUAB (CW) in Cleveland, Ohio since June 2023. During his time in Cleveland, he was instrumental in establishing a partnership with the Cleveland Cavaliers ...

Company Overview - Gray Media, Inc. is a multimedia company headquartered in Atlanta, Georgia, and is the largest owner of top-rated local television stations and digital assets in the United States [5] - The company serves 113 television markets, reaching approximately 37 percent of US television households, with 78 markets having the top-rated television station [5] - Gray Media also owns Gray Digital Media, which provides digital marketing strategies and services, and has additional media properties including video production companies and studio facilities [5] Leadership Appointment - Shalayna Valencia has been appointed as the General Manager and Director of Sales for KOSA, the CBS affiliate in Odessa, Texas [1] - She is recognized for her creativity, strategic thinking, and commitment to team development, with a career that includes roles such as Market President at Townsquare Media and Digital Sales Director at Hearst [3][4] - With over two decades of experience, Shalayna has a proven track record in driving growth and leading high-performing teams [4]